TD Bank Group CEO to Retire

By Eric Volkman – Apr 3, 2013 at 5:06PM

NYSE: TD

Toronto-Dominion Bank

Market Cap

$104B

Today's Change

(0.12%) $0.07

Current Price

$58.63

Price as of April 23, 2024, 9:41 a.m. ET

Ed Clark will relinquish his post in late 2014.

TD Bank Group (TD 0.12%) will see a leadership change next year. CEO Ed Clark has announced his retirement, effective Nov. 1, 2014. He will be replaced by Bharat Masrani, currently group head for U.S. personal and commercial banking and president and CEO of the group's namesake bank. Prior to his accession to CEO, Masrani will take the post of chief operating officer for the group starting on July 1 of this year.

Clark, who upon departure will have served 12 years as CEO, is also a board member at the company. He will continue to serve in this capacity until the firm's 2015 annual meeting.

Fool contributor Eric Volkman has no position in TD Bank Group, and neither does The Motley Fool. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.